New Age Metals (CVE:NAM) Shares Down 17.8% – Here’s What Happened

New Age Metals Inc. (CVE:NAM)’s stock price dropped 17.8% on Friday . The stock traded as low as C$0.37 and last traded at C$0.37. Approximately 719,175 shares were traded during trading, an increase of 581% from the average daily volume of 105,542 shares. The stock had previously closed at C$0.45.

Analyst Upgrades and Downgrades

Separately, Fundamental Research set a C$0.95 target price on shares of New Age Metals and gave the company a “buy” rating in a research note on Tuesday, November 11th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, New Age Metals has an average rating of “Buy” and a consensus target price of C$0.95.

New Age Metals Price Performance

The company has a debt-to-equity ratio of 0.74, a quick ratio of 17.88 and a current ratio of 52.48. The company has a market capitalization of C$24.58 million, a price-to-earnings ratio of -61.67 and a beta of 0.08. The company has a 50-day moving average price of C$0.36 and a 200-day moving average price of C$0.29.

About New Age Metals

New Age Metals Inc, a mineral exploration company, engages in the acquisition, exploration, and development of platinum group metals (PGMs), and precious and base metal properties in Canada. The company explores for rhodium, palladium, platinum, gold, nickel, copper, and lithium deposits. It holds interests in the River Valley PGE project located in the Dana and Pardo townships of Northern Ontario; the Genesis PGE project located in south central Alaska; and lithium projects situated to the northeast of Winnipeg, Manitoba.